TY 2021 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
bullet

Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0047

2021

Open to Public Inspection

For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021

Name of foundation
KERN FOUNDATION TRUST

Number and street (or P.O. box number if mail is not delivered to street address)THE NORTHERN TRUST COMPANY AS TRUS
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
PO BOX CHICAGO, IL60680

A Employer identification number

36-6107250

B Telephone number (see instructions)

(312) 630-6000

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... bullet

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$24,591,453J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	284,402		283,196
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		346,443
b	Gross sales price for all assets on line 6a 2,844,195
7	Capital gain net income (from Part IV, line 2)...			346,443
8	Net short-term capital gain.........				0
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......		1,497,998	1,422,069
12	Total. Add lines 1 through 11........	2,128,843		2,051,708
13	Compensation of officers, directors, trustees, etc.	106,543		26,636		79,907
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......			0	0
16a	Legal fees (attach schedule).........					0
b	Accounting fees (attach schedule).......		2,500	1,250	0	1,250
c	Other professional fees (attach schedule)....		25,472	25,472		0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...		23,169	2,193		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......			0	0
22	Printing and publications..........			0	0
23	Other expenses (attach schedule).......		15			15
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	157,699		55,551	0	81,172
25	Contributions, gifts, grants paid.......	982,448				982,448
26	Total expenses and disbursements. Add lines 24 and 25	1,140,147		55,551	0	1,063,620
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	988,696
b	Net investment income (if negative, enter -0-)			1,996,157
c	Adjusted net income (if negative, enter -0-)...				0

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2021)

Form 990-PF (2021)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	421,820	313,018	313,018
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts 0
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......	6,924,526	7,147,741	11,822,972
	c	Investments—corporate bonds (attach schedule).......	5,198,290	4,929,588	5,013,423
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	788,679	798,364	1,322,161
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )	6,029,649	6,948,419	6,119,879
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	19,362,964	20,137,130	24,591,453
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........		0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	19,362,964	20,137,130
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds
	29	Total net assets or fund balances (see instructions).....	19,362,964	20,137,130
	30	Total liabilities and net assets/fund balances (see instructions).	19,362,964	20,137,130

Part III

Analysis of Changes in Net Assets or Fund Balances

Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............

19,362,964

Enter amount from Part I, line 27a .....................

988,696

Other increases not included in line 2 (itemize) bullet

Add lines 1, 2, and 3 ..........................

20,351,660

Decreases not included in line 2 (itemize) bullet

214,530

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

20,137,130

Form 990-PF (2021)

Page 3

Part IV

Capital Gains and Losses for Tax on Investment Income

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation	(c) Date acquired (mo., day, yr.)	(d) Date sold (mo., day, yr.)
1 a	20.36 ALPHA CORE STRATEGIES FEEDER FUND QP		2008-11-26	2021-08-31
b	2.58 ALPHA CORE STRATEGIES FEEDER FUND QP		2008-11-26	2021-10-29
c	63. ACI WORLDWIDE INC COM STK		2020-02-21	2021-12-30
d	8. ACTIVISION BLIZZARD INC COM STK		2020-04-20	2021-09-01
e	8. AGILENT TECHNOLOGIES INC		2020-04-20	2021-09-01
	50000. ALPHABET INC 1.1% DUE 08-15-2030 REG		2020-08-03	2021-08-11
	50000. AMERN EXPRESS CO 3.4% 02-27-2023		2018-02-22	2021-05-17
	6. AMERISOURCE BERGEN CORP		2020-04-20	2021-09-01
	4. ANSYS INC		2020-04-20	2021-09-01
	25000. APPLE INC 1.65% DUE 02-08-2031/02-08-2021 REG		2021-02-01	2021-07-29
	171. APPLIED MATERIALS INC		2020-04-20	2021-03-17
	8. APPLIED MATERIALS INC		2020-04-20	2021-09-01
	16. APPLIED MATERIALS INC		2020-04-20	2021-09-15
	41. ARTISAN PARTNERS ASSET MGMT INC CL A CL A		2019-03-27	2021-04-12
	28. AUTODESK, INC		2020-04-20	2021-01-12
	86. AUTODESK, INC		2020-04-20	2021-01-13
	11. BALCHEM CORP COM		2020-05-26	2021-10-07
	50000. BANK OF AMERICA CORP MTN 1.197% 10-24-2026		2020-10-16	2021-03-09
	25000. BANK AMER CORP 1.658% DUE 03-11-2027/03-11-2021 BEO		2021-03-08	2021-07-15
	50000. BANK NEW YORK MELLON CORP MEDIUM TERM SRTRANCHE # TR 00013 1.6%		2020-04-17	2021-04-20
	50000. BANK N S HALIFAX 4.375% DUE 01-13-2021 REG		2013-02-07	2021-01-13
	50000. BANK NOVA SCOTIA B C 1.05% DUE 03-02-2026 REG		2021-02-24	2021-09-13
	65. BEACON ROOFING SUPPLY INC COM		2019-03-27	2021-03-03
	43. BEACON ROOFING SUPPLY INC COM		2019-03-27	2021-04-12
	7. BEACON ROOFING SUPPLY INC COM		2019-03-27	2021-05-06
	3. BIO RAD LABS INC CL A		2020-04-20	2021-09-01
	46. BLACKBAUD INC COM		2019-11-15	2021-03-02
	34. BLACKBAUD INC COM		2019-03-27	2021-06-10
	24. BLACKBAUD INC COM		2019-03-27	2021-12-30
	61. CBIZ INC COM		2020-02-25	2021-04-12
	4. CBRE GROUP INC CL A CL A		2020-04-20	2021-09-01
	.12 CABOT OIL & GAS CORP CL A		2020-06-11	2021-10-01
	23. CASEYS GEN STORES INC		2019-03-27	2021-01-11
	26. CASEYS GEN STORES INC		2019-03-27	2021-02-04
	14. CASEYS GEN STORES INC		2021-01-05	2021-03-09
	10. CASEYS GEN STORES INC		2019-03-27	2021-03-09
	24. CASEYS GEN STORES INC		2020-05-22	2021-03-22
	46. CASS INFORMATION SYS INC COM		2020-02-21	2021-12-14
	25000. CATERPILLAR FINL SVCS CORP MEDIUM TERM NTS SER J BOOK ENTRY .9%		2021-02-22	2021-09-08
	45. CENTRAL GARDEN & PET CO		2019-11-12	2021-04-12
	30. CENTRAL GARDEN & PET CO		2019-03-27	2021-04-13
	50000. CHEVRON CORP NEW 1.141% DUE 05-11-2023 REG		2020-05-07	2021-07-16
	21. CHOICE HOTELS INTL INC COM		2020-06-18	2021-09-21
	19. CHOICE HOTELS INTL INC COM		2020-05-26	2021-10-07
	25000. CITIGROUP INC 2.561% DUE 05-01-2032 BEO		2021-04-27	2021-10-27
	50000. CITIBANK N A 3.4% 07-23-2021		2018-07-16	2021-06-23
	9. COLUMBIA SPORTSWEAR CO		2020-02-21	2021-02-12
	48. COLUMBIA SPORTSWEAR CO		2019-03-27	2021-02-12
	33. #REORG/CORELOGIC INC CASH MERGER 06-04-2021		2020-12-03	2021-06-04
	207. #REORG/CORELOGIC INC CASH MERGER 06-04-2021		2019-03-27	2021-06-04
	11. D R HORTON INC		2020-04-20	2021-06-17
	6. DARDEN RESTAURANTS INC		2020-04-20	2021-09-01
	297. DOLLAR TREE INC COM STK		2021-09-08	2021-12-29
	28. DRIL-QUIP INC		2019-03-27	2021-08-25
	69.99984 DRIL-QUIP INC		2019-03-27	2021-08-26
	26.00016 DRIL-QUIP INC		2019-03-27	2021-08-26
	52. DRIL-QUIP INC		2020-10-07	2021-08-27
	153. DRIL-QUIP INC		2020-05-26	2021-08-27
	290. EATON VANCE CORP		2020-08-19	2021-01-12
	41. EMERGENT BIOSOLUTIONS INC COM		2020-03-25	2021-08-12
	42. EMERGENT BIOSOLUTIONS INC COM		2021-10-07	2021-12-13
	135. EMERGENT BIOSOLUTIONS INC COM		2020-12-03	2021-12-13
	40000. EMERSON ELEC CO 1.8% DUE 10-15-2027/04-29-2020 REG		2020-04-27	2021-06-14
	32. ENVESTNET INC COM STK		2020-05-26	2021-06-10
	20. EPLUS INC COM		2019-03-27	2021-09-21
	34. EXPONENT INC COM STK		2019-03-27	2021-08-03
	20. FTI CONSULTING INC		2020-02-18	2021-04-12
	75000. FEDERAL HOME LN BKS TRANCHE 00031 1.875%DUE 11-29-2021 REG		2017-06-20	2021-11-29
	379. FIRST HORIZON NATIONAL CORP COM		2019-03-27	2021-01-11
	91.68 FIRST HORIZON NATIONAL CORP COM		2020-02-21	2021-02-02
	215.32 FIRST HORIZON NATIONAL CORP COM		2019-03-27	2021-02-02
	35. FORWARD AIR CORPORATION		2020-02-21	2021-05-06
	24. FORWARD AIR CORPORATION		2019-03-27	2021-11-03
	19. FORWARD AIR CORPORATION		2019-03-27	2021-12-30
	4. GLOBAL PMTS INC		2020-04-20	2021-06-17
	25000. GOLDMAN SACHS GROUP INC 2.6% DUE 02-07-2030		2020-02-05	2021-01-21
	26. HAMILTON LANE INC CL A CL A		2020-09-02	2021-11-03
	50000. HOME DEPOT INC 2.5% DUE 04-15-2027/03-30-2020 REG		2020-03-26	2021-01-05
	25000. HOME DEPOT INC .9% DUE 03-15-2028/01-07-2021 REG		2021-01-04	2021-09-07
	20000. HONEYWELL INTL INC 1.35% DUE 06-01-2025 REG		2020-05-14	2021-08-02
	49. HOULIHAN LOKEY INC CL A CL A		2020-02-20	2021-06-10
	33. HOULIHAN LOKEY INC CL A CL A		2020-07-20	2021-08-03
	30. HOULIHAN LOKEY INC CL A CL A		2020-08-10	2021-10-07
	29. HOULIHAN LOKEY INC CL A CL A		2019-12-02	2021-11-03
	12. HOULIHAN LOKEY INC CL A CL A		2019-12-02	2021-12-13
	35. HURON CONSULTING GROUP INC COM STK		2019-10-10	2021-01-05
	13. HURON CONSULTING GROUP INC COM STK		2019-03-27	2021-01-06
	19. HURON CONSULTING GROUP INC COM STK		2019-03-27	2021-05-06
	47. HURON CONSULTING GROUP INC COM STK		2019-03-27	2021-08-12
	22. ICU MED INC COM		2019-03-27	2021-09-21
	60. INTEGRA LIFESCIENCES CORP HLDGS NEW		2019-03-27	2021-01-05
	17. INTEGRA LIFESCIENCES CORP HLDGS NEW		2020-02-21	2021-05-06
	17. INTER PARFUMS INC COM		2019-03-27	2021-03-03
	30. INTER PARFUMS INC COM		2019-03-27	2021-03-04
	15. INTER PARFUMS INC COM		2019-03-27	2021-10-07
	19. INTER PARFUMS INC COM		2019-03-27	2021-10-08
	11. INTER PARFUMS INC COM		2019-03-27	2021-10-11
	20. INTER PARFUMS INC COM		2019-03-27	2021-11-03
	28. INTER PARFUMS INC COM		2019-03-27	2021-12-30
	4. INTERCONTINENTAL EXCHANGE INC COM		2020-04-20	2021-09-01
	30. INTERCONTINENTAL EXCHANGE INC COM		2020-04-20	2021-12-29
	29. INTUIT		2020-04-20	2021-01-12
	7. J & J SNACK FOODS CORP COM STK NPV		2019-11-15	2021-05-06
	50000. JPMORGAN CHASE & CO 1.514% DUE 06-01-2024/06-01-2023 REG		2020-05-19	2021-01-29
	66. KAR AUCTION SVCS INC COM STK		2020-12-14	2021-05-06
	6. KEYSIGHT TECHNOLOGIES INC COM		2020-04-20	2021-06-17
	25. KINSALE CAP GROUP INC COM		2019-03-27	2021-11-03
	17. KINSALE CAP GROUP INC COM		2019-03-27	2021-12-30
	24. KIRBY EXPLORATION, INC.		2019-03-27	2021-12-02
	22. KIRBY EXPLORATION, INC.		2019-03-27	2021-12-03
	10. LANDSTAR SYS INC		2019-03-27	2021-05-06
	68. MANHATTAN ASSOCS INC COM		2019-03-27	2021-01-29
	47. MANHATTAN ASSOCS INC COM		2019-03-27	2021-02-04
	22. MANHATTAN ASSOCS INC COM		2019-03-27	2021-02-19
	54. MANHATTAN ASSOCS INC COM		2019-03-27	2021-04-28
	9. MANHATTAN ASSOCS INC COM		2021-05-06	2021-06-03
	25. MANHATTAN ASSOCS INC COM		2019-03-27	2021-06-03
	56. MANHATTAN ASSOCS INC COM		2021-04-12	2021-06-04
	50000. MERCK & CO INC NEW .75% DUE 02-24-2026/06-24-2020 REG		2020-06-16	2021-08-13
	5. MESA LABS INC COM		2020-06-04	2021-08-03
	5. MESA LABS INC COM		2020-06-04	2021-08-04
	14. MONRO MUFFLER BRAKE INC		2019-03-27	2021-05-06
	50000. MORGAN STANLEY 2.188% DUE 04-28-2026/04-28-2025 REG		2020-04-23	2021-04-21
	43. NATIONAL INSTRS CORP		2019-03-27	2021-08-03
	50000. NOVARTIS CAP CORP 2.0% DUE 02-14-2027 BEO		2020-02-11	2021-03-02
	37. PERFICIENT INC COM STK		2021-05-20	2021-08-03
	16. PERFICIENT INC COM STK		2021-08-12	2021-09-21
	30000. PFIZER INC .8% DUE 05-28-2025/05-28-2020REG		2020-05-18	2021-03-08
	56. PINNACLE FINL PARTNERS INC COM		2019-03-27	2021-03-03
	19. PINNACLE FINL PARTNERS INC COM		2019-03-27	2021-10-07
	18. PINNACLE FINL PARTNERS INC COM		2019-03-27	2021-12-07
	29. POWER INTEGRATIONS INC		2019-03-27	2021-01-05
	34. POWER INTEGRATIONS INC		2020-05-26	2021-08-03
	17. POWER INTEGRATIONS INC		2020-08-10	2021-09-21
	5. PROGRESSIVE CORP OHIO		2020-04-20	2021-09-01
	22. PROSPERITY BANCSHARES INC COM		2020-07-20	2021-05-18
	110. PROSPERITY BANCSHARES INC COM		2019-06-13	2021-05-18
	25000. PUBLIC STORAGE 1.85% DUE 05-01-2028 BEO		2021-04-14	2021-11-04
	34. QUALYS INC COM USD0.001		2019-12-23	2021-01-05
	20. QUALYS INC COM USD0.001		2020-06-04	2021-06-10
	38. QUALYS INC COM USD0.001		2020-09-14	2021-09-21
	13. QUALYS INC COM USD0.001		2020-02-20	2021-11-03
	46. #REORG/ RAVEN INDS IN CASH MERGER 11-30-2021		2019-03-27	2021-01-05
	11. #REORG/ RAVEN INDS IN CASH MERGER 11-30-2021		2019-03-27	2021-01-06
	54. #REORG/ RAVEN INDS IN CASH MERGER 11-30-2021		2019-03-27	2021-06-10
	10. #REORG/ RAVEN INDS IN CASH MERGER 11-30-2021		2019-03-27	2021-07-07
	40. #REORG/ RAVEN INDS IN CASH MERGER 11-30-2021		2019-03-27	2021-07-08
	163. #REORG/ RAVEN INDS IN CASH MERGER 11-30-2021		2020-05-26	2021-12-01
	.5 RAYMOND JAMES FINANCIAL INC		2020-04-20	2021-09-22
	134. #REORG/REALPAGE INC COM CASH MERGER 04-22-2021		2021-01-12	2021-03-17
	16. #REORG/REALPAGE INC COM CASH MERGER 04-22-2021		2021-01-12	2021-03-18
	102. #REORG/REALPAGE INC COM CASH MERGER 04-22-2021		2021-01-12	2021-03-19
	3. REPUBLIC SVCS INC		2020-04-20	2021-09-01
	8. ROGERS CORP		2021-08-27	2021-11-03
	50000. ROYAL BK CDA GLOBAL MEDIUM TERM SR BK NT1.15% DUE 06-10-2025		2020-06-03	2021-10-05
	162. SALLY BEAUTY HLDGS INC COM STK USD0.01		2019-03-27	2021-03-03
	130. SALLY BEAUTY HLDGS INC COM STK USD0.01		2019-03-27	2021-03-04
	126. SALLY BEAUTY HLDGS INC COM STK USD0.01		2020-02-21	2021-05-06
	11000. SANTANDER UK PLC 2.1% DUE 01-13-2023 REG		2020-01-06	2021-03-24
	39000. SANTANDER UK PLC 2.1% DUE 01-13-2023 REG		2020-01-06	2021-08-13
	25000. SCHWAB CHARLES CORP NEW 1.65% DUE 03-11-2031/06-11-2021 REG		2020-12-08	2021-05-11
	23. SELECTIVE INS GROUP INC		2021-03-16	2021-08-03
	25000. SHELL INTL FIN B V 2.0% DUE 11-07-2024/11-07-2019 REG		2019-11-04	2021-03-04
	36. SILGAN HOLDINGS INC COM		2019-08-01	2021-05-06
	50000. SIMON PPTY GROUP L P 2.45% 09-13-2029 REG		2019-09-11	2021-11-02
	14. SIMPSON MFG INC COMMON STOCK		2019-03-27	2021-05-06
	6. SKYWORKS SOLUTIONS INC		2020-04-20	2021-06-17
	15. SOUTHSTATE CORP COM		2020-02-21	2021-05-06
	24. SOUTHSTATE CORP COM		2019-03-27	2021-10-07
	50000. STATE STR CORP 2.354% DUE 11-01-2025/11-01-2024 REG		2019-10-29	2021-11-16
	7. SYNOPSYS INC		2020-04-20	2021-06-17
	18. SYNOPSYS INC		2020-04-20	2021-09-08
	50. SYNOPSYS INC		2020-04-20	2021-09-09
	108. TJX COS INC NEW		2020-04-20	2021-03-17
	17. TECHTARGET INC COM		2020-10-06	2021-11-03
	50000. TOYOTA MTR CR CORP MEDIUM TERM NTS BOOK ENTRY 2.0% DUE 10-07-20		2019-10-02	2021-03-23
	78. UMPQUA HOLDINGS CORP		2019-03-27	2021-05-06
	11. UNIFIRST CORP MASS COM		2019-08-12	2021-03-03
	50000. UTD STATES TREAS 1.125% DUE 08-31-2021 USD 1.125% DUE 08-31-202		2020-09-23	2021-08-31
	40000. UNITED STATES TREAS NTS 2.375% 12-31-2024		2019-06-26	2021-03-08
	40000. UNITED STATES TREAS NTS 2.0% DUE 01-15-2021		2018-01-29	2021-01-15
	20000. UNITED STATES TREAS 2.75% 02-15-2028		2018-12-26	2021-08-11
	50000. UNITED STATES TREAS NTS T NOTE 2.125% 05-31-2026		2019-06-21	2021-03-08
	50000. UNITED STATES OF AMER TREAS NOTES 2.75% DUE 02-15-2024 REG		2014-03-12	2021-03-08
	75000. UNITED STATES TREAS NTS 1.75% 03-31-2022		2015-04-24	2021-02-25
	50000. DTD 683 1.625% DUE 02-15-2026 REG		2016-02-23	2021-03-08
	75000. UNITED STATES TREAS NTS DTD 07/31/2016 1.125% DUE 07-31-2021 RE		2020-09-30	2021-08-02
	50000. UNITED STATES TREAS NTS 1.125% DUE 09-30-2021		2020-09-23	2021-09-30
	45000. DTD 05/15/2015 2.125% DUE 05-15-2025 REG		2019-06-06	2021-03-08
	5000. UNITED STATES TREAS NTS DTD 11/30/2019 1.5% DUE 11-30-2021 REG		2020-10-21	2021-06-16
	75000. UNITED STATES TREAS NTS DTD 11/30/2019 1.5% DUE 11-30-2021 REG		2020-10-21	2021-11-30
	25000. UNITED STATES TREAS NTS .5% DUE 05-31-2027 REG		2020-06-24	2021-08-13
	25000. UNITEDHEALTH GROUP INC 2.0% 05-15-2030		2020-05-13	2021-04-28
	25000. UNITEDHEALTH GROUP INC 2.0% 05-15-2030		2020-05-13	2021-05-10
	16. UNIVERSAL HEALTH REALTY INCOME TRUST		2020-05-26	2021-06-10
	9. UNIVERSAL HEALTH REALTY INCOME TRUST		2019-03-27	2021-06-11
	46. UNIVERSAL HEALTH REALTY INCOME TRUST		2019-03-27	2021-09-13
	39. UNIVERSAL HEALTH REALTY INCOME TRUST		2020-07-23	2021-09-14
	9. UNIVERSAL HEALTH REALTY INCOME TRUST		2021-05-06	2021-09-15
	25. UNIVERSAL HEALTH REALTY INCOME TRUST		2020-07-21	2021-09-15
	26. UNIVERSAL HEALTH REALTY INCOME TRUST		2021-08-04	2021-09-16
	5. UNIVERSAL HEALTH REALTY INCOME TRUST		2021-08-04	2021-09-17
	49. UNIVERSAL HEALTH REALTY INCOME TRUST		2021-08-04	2021-09-20
	50000. VISA INC 1.1% DUE 02-15-2031/08-17-2020 REG		2020-08-10	2021-09-29
	7. WEC ENERGY GROUP INC COM		2020-04-20	2021-09-01
	9.99886 WESTAMERICA BANCORPORATION		2019-03-27	2021-08-12
	35.00114 WESTAMERICA BANCORPORATION		2019-03-27	2021-08-12
	50000. WESTPAC BKG CORP 2.35% DUE 02-19-2025 REG		2019-11-12	2021-11-08
	88. WOLVERINE WORLD WIDE INC		2020-02-21	2021-05-06
	52. WOLVERINE WORLD WIDE INC		2020-07-20	2021-11-03
	43. XILINX INC		2020-04-20	2021-06-17
	39. XILINX INC		2020-04-20	2021-09-10
	31. YETI HLDGS INC COM		2020-08-06	2021-04-12
	15. YETI HLDGS INC COM		2020-08-06	2021-11-03
	72. YETI HLDGS INC COM		2020-09-22	2021-12-07
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	442	237	205
b	57	30	27
c	2,198	2,290	-92
d	659	535	124
e	1,402	618	784
	47,661	49,863	-2,202
	52,621	49,955	2,666
	734	539	195
	1,479	1,068	411
	24,762	24,993	-231
	20,110	8,744	11,366
	1,074	409	665
	2,253	818	1,435
	2,210	913	1,297
	8,963	4,990	3,973
	27,305	15,326	11,979
	1,683	1,081	602
	49,161	50,000	-839
	25,212	25,000	212
	51,225	50,034	1,191
	50,000	57,083	-7,083
	49,682	49,942	-260
	3,223	2,087	1,136
	2,388	1,381	1,007
	407	225	182
	2,437	1,275	1,162
	3,244	3,794	-550
	2,550	2,663	-113
	1,926	1,880	46
	2,039	1,665	374
	389	170	219
	3	1	2
	4,208	2,898	1,310
	4,935	3,276	1,659
	2,778	2,488	290
	1,984	1,260	724
	4,978	3,409	1,569
	1,881	2,274	-393
	24,882	24,943	-61
	2,569	1,186	1,383
	1,687	779	908
	50,734	50,000	734
	2,568	1,789	779
	2,593	1,546	1,047
	25,158	25,000	158
	50,000	49,945	55
	904	817	87
	4,823	4,674	149
	2,640	2,419	221
	16,560	7,627	8,933
	987	420	567
	903	371	532
	41,618	31,495	10,123
	671	1,289	-618
	1,646	3,353	-1,707
	611	1,197	-586
	1,267	1,265	2
	3,729	6,098	-2,369
	20,903	9,976	10,927
	2,531	2,230	301
	1,712	2,427	-715
	5,502	10,159	-4,657
	40,892	40,039	853
	2,492	2,200	292
	2,016	1,753	263
	3,695	1,954	1,741
	2,906	2,218	688
	75,000	75,481	-481
	5,654	5,921	-267
	1,323	1,458	-135
	3,106	3,364	-258
	3,346	2,266	1,080
	2,534	1,527	1,007
	2,279	1,209	1,070
	777	593	184
	26,360	24,991	1,369
	2,875	1,856	1,019
	54,646	49,982	4,664
	24,112	24,887	-775
	20,455	19,998	457
	3,814	2,799	1,015
	2,749	1,806	943
	2,983	1,645	1,338
	3,413	1,384	2,029
	1,201	572	629
	2,005	2,135	-130
	756	625	131
	1,050	913	137
	2,222	2,259	-37
	5,287	5,148	139
	3,833	3,317	516
	1,227	1,012	215
	1,244	1,294	-50
	2,151	2,284	-133
	1,188	1,142	46
	1,481	1,447	34
	853	838	15
	1,812	1,523	289
	2,956	2,097	859
	483	355	128
	4,121	2,662	1,459
	10,594	7,659	2,935
	1,161	1,299	-138
	51,125	50,023	1,102
	1,067	1,208	-141
	901	570	331
	5,015	1,706	3,309
	4,043	1,160	2,883
	1,280	1,851	-571
	1,161	1,697	-536
	1,757	1,081	676
	7,687	3,698	3,989
	5,932	2,556	3,376
	2,929	1,196	1,733
	7,816	2,936	4,880
	1,206	1,174	32
	3,350	1,359	1,991
	7,575	5,461	2,114
	49,741	49,749	-8
	1,456	1,227	229
	1,424	1,197	227
	981	1,160	-179
	51,794	50,122	1,672
	1,886	1,927	-41
	52,110	49,955	2,155
	3,615	2,694	921
	1,850	1,636	214
	29,806	29,863	-57
	4,697	3,078	1,619
	1,822	1,044	778
	1,715	989	726
	2,395	1,000	1,395
	3,296	1,818	1,478
	1,795	1,009	786
	481	407	74
	1,661	1,190	471
	8,304	7,508	796
	25,116	25,006	110
	3,845	2,895	950
	2,036	2,294	-258
	4,403	3,742	661
	1,652	1,165	487
	1,508	1,749	-241
	364	418	-54
	2,335	2,053	282
	574	380	194
	2,292	1,521	771
	9,454	4,770	4,684
	50	21	29
	11,696	11,628	68
	1,397	1,388	9
	8,903	8,851	52
	374	235	139
	2,167	1,683	484
	50,045	49,826	219
	2,977	2,994	-17
	2,371	2,402	-31
	2,991	2,080	911
	11,366	10,993	373
	39,969	38,976	993
	23,540	24,951	-1,411
	1,856	1,761	95
	26,109	24,929	1,180
	1,538	1,086	452
	50,803	48,840	1,963
	1,621	809	812
	1,032	557	475
	1,298	1,167	131
	1,871	1,631	240
	51,669	50,024	1,645
	1,860	1,064	796
	6,065	2,737	3,328
	16,760	7,602	9,158
	7,268	5,178	2,090
	1,653	801	852
	52,129	49,955	2,174
	1,460	1,300	160
	2,738	1,921	817
	50,000	50,465	-465
	42,589	40,883	1,706
	40,000	39,703	297
	22,159	19,917	2,242
	53,188	50,723	2,465
	53,563	50,098	3,465
	76,362	75,331	1,031
	51,961	49,504	2,457
	75,000	75,609	-609
	50,000	50,504	-504
	47,774	45,410	2,364
	5,034	5,075	-41
	75,000	76,131	-1,131
	24,418	24,975	-557
	24,721	24,885	-164
	24,792	24,789	3
	1,157	1,507	-350
	640	672	-32
	2,671	3,431	-760
	2,255	2,820	-565
	517	593	-76
	1,437	1,689	-252
	1,497	1,644	-147
	279	298	-19
	2,729	2,849	-120
	46,882	49,907	-3,025
	673	675	-2
	581	620	-39
	2,033	2,170	-137
	51,940	49,986	1,954
	3,789	2,905	884
	1,864	1,453	411
	5,747	3,849	1,898
	6,102	3,491	2,611
	2,573	1,606	967
	1,564	777	787
	6,502	3,511	2,991
			165,337
			165,337
			165,337
			165,337
			165,337
			165,337
			165,337
			165,337
			165,337
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			165,337
			165,337
			165,337
			165,337
			165,337
			165,337
			165,337
			165,337
			165,337
			165,337

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			205
b			27
c			-92
d			124
e			784
			-2,202
			2,666
			195
			411
			-231
			11,366
			665
			1,435
			1,297
			3,973
			11,979
			602
			-839
			212
			1,191
			-7,083
			-260
			1,136
			1,007
			182
			1,162
			-550
			-113
			46
			374
			219
			2
			1,310
			1,659
			290
			724
			1,569
			-393
			-61
			1,383
			908
			734
			779
			1,047
			158
			55
			87
			149
			221
			8,933
			567
			532
			10,123
			-618
			-1,707
			-586
			2
			-2,369
			10,927
			301
			-715
			-4,657
			853
			292
			263
			1,741
			688
			-481
			-267
			-135
			-258
			1,080
			1,007
			1,070
			184
			1,369
			1,019
			4,664
			-775
			457
			1,015
			943
			1,338
			2,029
			629
			-130
			131
			137
			-37
			139
			516
			215
			-50
			-133
			46
			34
			15
			289
			859
			128
			1,459
			2,935
			-138
			1,102
			-141
			331
			3,309
			2,883
			-571
			-536
			676
			3,989
			3,376
			1,733
			4,880
			32
			1,991
			2,114
			-8
			229
			227
			-179
			1,672
			-41
			2,155
			921
			214
			-57
			1,619
			778
			726
			1,395
			1,478
			786
			74
			471
			796
			110
			950
			-258
			661
			487
			-241
			-54
			282
			194
			771
			4,684
			29
			68
			9
			52
			139
			484
			219
			-17
			-31
			911
			373
			993
			-1,411
			95
			1,180
			452
			1,963
			812
			475
			131
			240
			1,645
			796
			3,328
			9,158
			2,090
			852
			2,174
			160
			817
			-465
			1,706
			297
			2,242
			2,465
			3,465
			1,031
			2,457
			-609
			-504
			2,364
			-41
			-1,131
			-557
			-164
			3
			-350
			-32
			-760
			-565
			-76
			-252
			-147
			-19
			-120
			-3,025
			-2
			-39
			-137
			1,954
			884
			411
			1,898
			2,611
			967
			787
			2,991

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	346,443
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

Form 990-PF (2021)

Page 4

Part V

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2...........................	3	27,747
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	27,747
6	Credits/Payments:

a	2021 estimated tax payments and 2020 overpayment credited to 2021	6a	18,097
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	18,097
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	9,650
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2022 estimated tax0	Refunded	11	0

Part VI-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

Did the foundation have unrelated business gross income of $1,000 or more during the year?.........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument?................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),

and Part XIV..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.

If "Yes," complete Part XIII .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

Form 990-PF (2021)

Page 5

Part VI-A

Statements Regarding Activities (continued)

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement. See instructions.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

N/A

The books are in care of bullet

THE NORTHERN TRUST COMPANY Telephone no. bullet

(321) 630-6000

Located at bullet

PO BOX 803878CHICAGOIL ZIP+4 bullet

60680

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here ......... bullet

and enter the amount of tax-exempt interest received or accrued during the year ........ bullet

16 At any time during calendar year 2021, did the foundation have an interest in or a signature or other authority over YesNo

a bank, securities, or other financial account in a foreign country? .................

16 No

See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country bullet

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.

Yes

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........

1a(1)

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person? ..............................

1a(2)

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........

1a(3)

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............

1a(4)

Yes

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)? ......................

1a(5)

(6) Agree to pay money or property to a government official? (Exception. Check "No"

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.) ...............

1a(6)

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........

Organizations relying on a current notice regarding disaster assistance check here........ bullet

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2021? .............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2021, did the foundation have any undistributed income (lines 6d

and 6e, Part XII) for tax year(s) beginning before 2021?....................

If "Yes," list the years bullet

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year? ..............................

If "Yes," did it have excess business holdings in 2021 as a result of (1) any purchase by the foundation

or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved

by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)

the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine

if the foundation had excess business holdings in 2021.) .....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2021? ..

Form 990-PF (2021)

Page 6

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........

5a(1)

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive? ....................

5a(2)

(3) Provide a grant to an individual for travel, study, or other similar purposes? .............

5a(3)

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions ........................

5a(4)

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals? .............

5a(5)

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........

Organizations relying on a current notice regarding disaster assistance check here ......... bullet

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant? .................

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract? .............................

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....

Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or

excess parachute payment during the year? .........................

Part VII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors

1 List all officers, directors, trustees, foundation managers and their compensation. See instructions

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
THE NORTHERN TRUST COMPANY	TRUSTEE 40	106,543
PO BOX 803878 CHICAGO,IL60680	TRUSTEE 40	106,543

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









Total number of other employees paid over $50,000...................				0

Form 990-PF (2021)

Page 7

Part VII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

Total number of others receiving over $50,000 for professional services............. bullet

Part VIII-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Part VIII-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... bullet

Form 990-PF (2021)

Page 8

Part IX

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

23,557,425

Average of monthly cash balances.......................

Fair market value of all other assets (see instructions)................

Total (add lines 1a, b, and c).........................

23,557,425

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

23,557,425

Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see

instructions) .............................

353,361

Net value of noncharitable-use assets. Subtract line 4 from line 3. .......

23,204,064

Minimum investment return. Enter 5% (0.05) of line 5................

1,160,203

Part X

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow

and do not complete this part.)

Minimum investment return from Part IX, line 6..................

1,160,203

Tax on investment income for 2021 from Part V, line 5.......

27,747

Income tax for 2021. (This does not include the tax from Part V.) ...

Add lines 2a and 2b............................

27,747

Distributable amount before adjustments. Subtract line 2c from line 1............

1,132,456

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

1,132,456

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...

1,132,456

Part XI

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

Program-related investments—total from Part VIII-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4.

Form 990-PF (2021)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2020	(c) 2020	(d) 2021
1 Distributable amount for 2021 from Part X, line 7					1,132,456
2 Undistributed income, if any, as of the end of 2021:
a Enter amount for 2020 only.......				0
b Total for prior years:20, 20, 20			0
3 Excess distributions carryover, if any, to 2021:
a From 2016......	454,068
b From 2017......	264,915
c From 2018......	213,378
d From 2019......	340,829
e From 2020......	138,070
f Total of lines 3a through e ........		1,411,260
4Qualifying distributions for 2021 from Part
XI, line 4: $ 1,063,620
a Applied to 2020, but not more than line 2a				0
b Applied to undistributed income of prior years (Election required—see instructions).....			0
c Treated as distributions out of corpus (Election required—see instructions)........		0
d Applied to 2021 distributable amount.....					1,063,620
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2021.		68,836			68,836
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		1,342,424
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........			0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......			0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2019. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2021. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2022 ..........					0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......		0
8 Excess distributions carryover from 2016 not applied on line 5 or line 7 (see instructions) ...		385,232
9 Excess distributions carryover to 2022. Subtract lines 7 and 8 from line 6a ......		957,192
10 Analysis of line 9:
a Excess from 2017....	264,915
b Excess from 2018....	213,378
c Excess from 2019....	340,829
d Excess from 2020....	138,070
e Excess from 2021....

Form 990-PF (2021)

Page 10

Part XIII

Private Operating Foundations (see instructions and Part VI-A, question 9)

1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2021, enter the date of the ruling ....... bullet

b Check box to indicate whether the organization is a private operating foundation described in section 4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2021	(b) 2020	(c) 2019	(d) 2018	(e) Total

b 85% (0.85) of line 2a .........
c Qualifying distributions from Part XI, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part IX, line 6 for each year listed ..
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

Part XIV

Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

aThe name, address, and telephone number or email address of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Form 990-PF (2021)

Page 11

Part XIV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
THE THEOSOPHICAL ORDER OF SERVICE 1926 N MAIN ST WHEATON,IL60189	NONE	PUBLIC CHARITY	GENERAL	17,000
THE THEOSOPHICAL BOOK GIFT INSTITUTE PO BOX 270 WHEATON,IL60189	NONE	PUBLIC CHARITY	GENERAL	4,000
THE THEOSOPHICAL SOCIETY IN AMERICA 1926 NORTH MAIN ST WHEATON,IL60189	NONE	PUBLIC CHARITY	GENERAL	859,275
KROTONA INSTITUTE OF THEOSOPHY 2 KROTONA HILL OJAI,CA930233901	NONE	PUBLIC CHARITY	GENERAL	102,173
Total ................................. 3a				982,448

bApproved for future payment

Total ................................. 3b

Form 990-PF (2021)

Page 12

Part XV-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments ....
3 Interest on savings and temporary cash investments ...........
4 Dividends and interest from securities ....
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income .....
8 Gain or (loss) from sales of assets other than inventory ............			18	346,443
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aPARTNERSHIP INCOME	900099	24,447	14	1,421,800
bDEFERRED INCOME			14	51,751
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..		24,447		2,104,396

13Total. Add line 12, columns (b), (d), and (e)..................

2,128,843

(See worksheet in line 13 instructions to verify calculations.)

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2021)

Page 13

Part XVI

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Yes

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........Yes No

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2021)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
SEE ATTACHED SCHEDULE	AT COST	793,157	1,316,954
SEE ATTACHED SCHEDULE	AT COST	5,207	5,207

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
NTCC INTL SECURITIES	5,074,232	6,243,858	4,546,952
NORTHERN TRUST PRIVATE EQUITY	955,417	628,035	1,472,915
NORTHERN TRUST PRIVATE EQUITY		76,526	100,012

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
EXCISE TAXES	20,976	0		0
FOREIGN TAXES	2,193	2,193		0